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TP Group To Get GBP27.8 Million Contract With Ministry Of Defence

Mon, 04th Jul 2016 14:08

LONDON (Alliance News) - Technology and engineering company TP Group PLC on Monday said the Ministry of Defence intends to award TP Group's subsidiary TPG Maritime with a sole source contract.

The contract is for an asset availability service relating to submarine air purification. It will be for an initial seven years with an optional three-year extension and is estimated to be worth GBP27.8 million.

TP Group anticipates the contract to begin in early 2017.

Shares in TP Group were trading up 14% at 3.99 pence on Monday afternoon.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

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